Which Insurance Company is the Cheapest?

The cost of insurance is a big concern for many people, but skimping out on good coverage can cost you more in the long run. Luckily, there are some strategies and tips that can help you save money.

Homeowners Insurance

Having a home is an investment, so you certainly want to protect yourself with homeowners insurance. But there are ways to save money at the same time.

  • Have a High Deductible: If you’re comfortable in your ability to assume damage to your home, and are willing to take a risk, you can save as much as 35 percent on your home insurance by choosing a high deductible. Remember to be realistic about your situation and what you can afford come an emergency before going this route.
  • Install Security Devices: Insurance providers know you’re doing more to help protect your home when you have monitored security devices in your home, like a security system, fire/smoke alarms, carbon monoxide detectors, and flood detectors. These devices can help reduce the risk of accidents and damage, so some insurance providers may offer you a discount of up to 20 percent off your homeowners insurance.
  • Add Protections: Fortifying your home against disasters when living in a high-risk area can also help you save money. If your area is prone to floods or earthquakes, adding protections against water and stabilizing the base of your home can help insurance providers feel at ease and might earn you further discounts.
  • Improve Your Credit: You know that your credit score can play a factor in a lot of big purchases and it can even help you save on insurance. Some providers will give lower premiums to people with good credit.
  • Stay Loyal: Insurance providers are also fans of customers who stick with them for a long time, so many will offer discounts to loyal customers.

Auto Insurance

There are many ways to reduce the cost of your auto insurance while maintaining adequate coverage.

  • Compare Rates: It’s important to shop around to compare prices. Obrella can help you compare and contrast the different insurance options available in your area and save you money by finding the plan that works for you.
  • Take Advantage of Available Discounts: Some insurance providers will give you a break on your premium for low-mileage on your car or for loyalty by remaining with them over time. There may also be discounts available to students with good grades, for cars with anti-theft devices installed, for taking defensive driving courses, and having a good credit record. Be sure to cover all your bases and search for the best discounts for you and your family.
  • Consider Your Cars Age: Instead of getting a brand new car, you might want to get an older car. If you’re looking for something to simply get you from here to there, older cars are often more affordable to insure.
  • Pay a Higher Deductible: Just like with homeowners insurance, you can pay a higher deductible to lower your rate. Only do this when you’re absolutely sure you can cover the costs of the deductible out-of-pocket, not just as an attempt to save you money now.

We’ve Done The Work For You

Want a quick snapshot of who are the cheapest providers?  Check out the following:

  • Cheapest Insurance for Teens Guide
  • Cheapest Insurance for Drivers Over 50

Save on Both Homeowners and Auto Insurance

Consider bundling your auto and home insurance to save you money in both areas. Many providers will lower your rates if you choose to bundle coverage with them and you’ll have an easier time keeping track of your policies with them all under one roof.

If you are looking to find an affordable insurance policy, let us help. We’ve done the research so you can sift through and compare top insurance companies to find the best match for you. If you are ready for a quote on a customized policy that gives you all of the coverage that you need at a price you can compare, call an agent today.

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